Malaysia’s July industrial production up 1.4% year on year

10 September 2012 08:54[Source: ICIS news]

SINGAPORE (ICIS)--?xml:namespace>Malaysia’s overall industrial production grew by 1.4% year on year in July, partly buoyed by a rise in output from the chemicals and plastic sub-sectors, official data showed on Monday.

This growth in the industrial production index was supported by the manufacturing sub-index, which grew by 5.5% year on year in July this year, following the 4.8% growth in June, the Department of Statistics said in a statement.

The petroleum, chemical, rubber and plastic products segment of the manufacturing sub-index saw a 9.9% year-on-year increase in output, it said.

Malaysia’s total exports slipped by 1.9% year on year to M$58.1bn in July, weighed by faltering demand from major export destinations including China, South Korea and the EU.

On a seasonally adjusted month-on-month basis, the country’s industrial production index fell by 4.7% in July, compared with the 1.9% fall in June, as all the three components of the index shrank, it said.

The manufacturing sub-index fell 3.4% in July from a month earlier, the electricity sub-index fell by 1.8% and the mining sub-index shrank by 10.2% on a seasonally adjusted basis, the statistics department added.